NPF Microfinance Bank Hits 10% Gain Limit, Rises to N4.40

NPF Microfinance Bank Plc emerged as one of the best-performing stocks on the Nigerian Exchange on Tuesday after its share price appreciated by 10 percent to N4.40.

The microfinance bank gained N0.40 during the trading session, rising from its previous closing price of N4.00 to N4.40.

The increase placed NPF Microfinance Bank at the top of the NGX gainers’ table after the stock reached the 10 percent daily price movement limit.

At N4.40 per share, the company added N0.40 to its market price in a single trading session as buying interest supported the stock.

NPF Microfinance Bank shared the top position on the gainers’ table with LivingTrust Mortgage Bank, which also appreciated by exactly 10 percent during the session.

LivingTrust advanced from N2.60 to N2.86, while Wapic Insurance followed with a 9.95 percent increase from N2.21 to N2.43.

VFD Group gained 9.84 percent to close at N13.40, while ABC Transport completed the five biggest gainers with a 9.82 percent increase to N6.15.

NPF Microfinance Bank’s performance came despite a decline in the broader equities market.

The NGX All-Share Index fell 0.29 percent to 251,913.20 points on Tuesday, while equity market capitalisation declined to N163.53 trillion.

The 10 percent increase therefore positioned NPF Microfinance Bank among the stocks that bucked the broader market decline during Tuesday’s trading session.